Course Detail (Course Description By Faculty)

Accounting is the language used to measure and communicate a firm’s economic performance to its stakeholders. A solid understanding of this language is one of the building blocks of any business. The accounting process produces much of the financial information used internally by managers and boards, and externally by shareholders, lenders, customers, suppliers, employees, and regulators.

By the end of the quarter, I will expect you to:

• Have learned how to read and interpret financial statements
• Understand common business transactions and how these flow into financial statements
• Appreciate the discretion allowed in selecting accounting methods, making estimates, and disclosing information

Classes include interactive lectures as well as case discussions to illustrate key concepts. This course will prepare students for more advanced financial statement analysis courses.

• Grades will be based on two exams, a series of required problem sets, and class participation:
• Exams: There will be an in-class midterm and final exam. Both exams are closed book / notes. Unexcused absences from an exam will result in a grade of zero. If you have an excused absence from the midterm exam, you will receive extra weight on your final exam to compensate for the missed examination. There will be no make-up midterm exams. The final exam is mandatory and is scheduled during Chicago Booth’s final exam week.
• Problem Sets: Seven problem sets are assigned during the quarter; I will drop your lowest score. Collaboration with classmates is permitted, but each student must submit their own original written work. Assignments must be uploaded to Canvas by the stated deadline, before the start of class. Grading will take into account the effort demonstrated in addressing the questions. No make-up assignments will be available.
• Class Participation: 10% of your grade will be based on class participation. That includes attendance, on-time arrival, and professional behavior during class (including but not limited to: not leaving while class is in session, not having private conversations, not using unauthorized electronics like phones), responding to questions and polls, asking questions that inform our discussion, sharing your relevant professional experience, and a general demonstration of positive engagement.
• Your final grade will be determined as follows based on the option that results in a higher overall course grade: Problem sets (20%), Participation (10%), Midterm (30% or 20%), Final Exam (40% or 50%). In other words, if you perform better on the final exam than on the midterm, the final exam will take on greater weight and the midterm exam wll take on less weight.
• The final grades for my sections will be based on the school’s mandated grade distribution.